View Single Post
  #30  
Old 11-27-2007, 06:34 PM
DVaut1 DVaut1 is offline
Senior Member
 
Join Date: Nov 2004
Location: Ann Arbor, MI
Posts: 4,751
Default Re: Understanding the Social Security scam

FWIW, I'm not going to criticize the notion that Social Security is a scam, but if Social Security is a scam, that doesn't mean it fits the definition of a pyramid scheme. Pyramid schemes are, by definition, unsustainable. Social Security and other social insurance programs are sustainable and the obligations are clearly defined and predictable, hence why the program has existed for 50+ years and relatedly, will continue to exist into the short to mid term future without any intervention whatsoever -- the 1983 Amendments assured that. Even the so-called "Social Security" funding crisis isn't a death knell for the program, as it can easily be made solvent again through some simple policy changes -- although I'll concede those changes may be unpopular. There is no other pyramid scheme, to my knowledge, which can exist for decades (and soon to be centuries) like Social Security has.

I realize I'm not responding to anyone in particular here, but it seems to be a popular to claim Social Security is a pyramid scheme, which seems pretty far from the truth.
Reply With Quote